Jiminys Cricket Farm issued a bond with 20 years to maturity and a semiannual coupon rate of 4 percent 6 years ago. The bond currently sells for 95 percent of its face value. The companys tax rate is 25 percent. The book value of the debt issue is $50 million. In addition, the company has a second debt issue on the market, a zero coupon bond with 7 years left to maturity; the book value of this issue is $35 million, and the bonds sell for 74 percent of par.

What is your best estimate of the aftertax cost of debt? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)